Futures Advance after S&P Shoots to New High

U.S. stock futures were slightly higher Friday morning after the S&P 500 hit a new record in the previous session despite hotter-than-expected inflation data.

Futures for the Dow Jones Industrials gained 79 points, or 0.2 %, to 34,432.

Futures for the S&P 500 added six points, or 0.1%, to 4,234.75.

Futures for the NASDAQ Composite picked up 20.5 points, or 0.2%, to 13,971.

Some of the meme stocks were rebounding after a rough day on Thursday. AMC shares were up 3% and GameStop was up 7% in the premarket. Those two suffered double digit percent losses on Thursday as momentum in the Reddit favorites faded.

For the week, major benchmarks are mixed. The Dow is off by 0.8%, but the S&P 500 is up 0.2% and the NASDAQ is up 1.5%.

Overseas, in Japan, the Nikkei 225 lost more than nine points Friday, while in Hong Kong, the Hang Seng index gained 0.4%.

Oil prices increased 14 cents to $70.43 U.S. a barrel.

Gold prices docked $2.60 to $1,893.50 U.S.